Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
_be_7473
New Member

TD Bank provided me with a fee summary attached to the T5008; where do I enter the Management Fees?

 
1 Best answer

Accepted Solutions

TD Bank provided me with a fee summary attached to the T5008; where do I enter the Management Fees?

If these are Investment Management Fees on Non-registered accounts, paid directly by you:  go to the Income Tab > Investment Expenses. Check "Investment management and advice (includes carrying charges)" and enter on the next screen - Carrying charges.

You cannot claim these fees if they are  part of the Management Expense Ratio (MER) and not paid directly by you. Rather, these fees are deducted from the income reported on the annual tax slip if you receive one in relation to your mutual funds.

More information on carrying charges and interest expenses from CRA can be found here: https://bit.ly/2NjrEpY

View solution in original post

1 Reply

TD Bank provided me with a fee summary attached to the T5008; where do I enter the Management Fees?

If these are Investment Management Fees on Non-registered accounts, paid directly by you:  go to the Income Tab > Investment Expenses. Check "Investment management and advice (includes carrying charges)" and enter on the next screen - Carrying charges.

You cannot claim these fees if they are  part of the Management Expense Ratio (MER) and not paid directly by you. Rather, these fees are deducted from the income reported on the annual tax slip if you receive one in relation to your mutual funds.

More information on carrying charges and interest expenses from CRA can be found here: https://bit.ly/2NjrEpY